REG - Galileo Resources - Wide Pegmatite Intercepts at Kamativi Project

Galileo ResourcesAnnouncement

24/07/2023 07:00

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RNS Number : 8560G  Galileo Resources PLC  24 July 2023

24 July 2023

 

Galileo Resources Plc

("Galileo" or "the Company")

 

Wide Pegmatite Intercepts in Initial Kamativi Lithium Drilling Programme

 

Galileo Resources plc ("Galileo "or the "Company") is pleased to inform
shareholders that the first two holes of the recently commenced drill
programme over the Kamativi lithium - tin target in Zimbabwe have intersected
multiple pegmatite dykes, some over substantial widths.

 

Highlights

 

·    The first two angled holes (KSDD001 & 2) completed to date at
Kamativi from a planned 11-hole programme have intersected multiple pegmatite
zones up to 18m in downhole width, the longest running from 28.3m to 46.3m in
hole KSDD001.

·    Pegmatites are variable in composition, including feldspars, mica,
quartz, accessory black tourmaline and brown garnet, with green alteration in
places.

·    Handheld pXRF analysers cannot detect lithium directly, however
preliminary core analysis by pXRF shows low K/Rb ratios in many of the
pegmatites, including the widest one, which can be indicative of
lithium-bearing LCT pegmatites.

·    Anomalous tin up to 0.13% associated with low K/Rb pegmatites.

·    Galileo plans to send split drill core for quick indicative lithium
analysis to a Zimbabwe laboratory, followed by full multielement analysis at
the ALS laboratory in Johannesburg.

 

 

Colin Bird Chairman and CEO said "We are pleased with the thickness of the
pegmatite intersections and are highly encouraged by the low
potassium/rubidium ratios which academia and past practice shows to be often
strongly indicative of lithium presence. We are preparing to dispatch some of
the core to get an early indication of lithium content as we continue with the
drilling programme nearby and on surrounding anomalies.".

 

 

Kamativi Lithium Project

The Kamativi licence EPO 1782 covers an area of 520 sq km in western Zimbabwe.
Galileo has an option to earn an 80% interest through spending a combined
total of $1.5million on exploration and evaluation in the Project area and
over the Bulawayo gold-nickel property by 21 July 2024.

 

 

Technical Sign-Off: Technical information in this announcement has been
reviewed by Edward (Ed) Slowey, BSc, PGeo, Technical Director of Galileo. Mr
Slowey is a geologist with more than 40 years' relevant experience in mineral
exploration and mining, a founder member of the Institute of Geologists of
Ireland and is a Qualified Person under the AIM rules. Mr Slowey has reviewed
and approved this announcement.

 

You can also follow Galileo on Twitter: @GalileoResource

 

For further information, please contact: Galileo Resources PLC

 

 Colin Bird, Chairman                       Tel +44 (0) 20 7581 4477
 Beaumont Cornish Limited - Nomad           Tel +44 (0) 20 7628 3396

 Roland Cornish/James Biddle
 Novum Securities Limited - Joint Broker    +44 (0) 20 7399 9400

 Colin Rowbury /Jon Belliss
 Shard Capital Partners LLP - Joint Broker  Tel +44 (0) 20 7186 9952

 Damon Heath

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").

 

Technical Glossary

 

 "dyke"        A tabular intrusive rock cross-cutting the host strata at a high angle.
 "felspar"     A group of silicate minerals (potassium feldspar, KAlSi(3)O(8); albite,
               NaAlSi(3)O(8); anorthite, CaAl(2)Si(2)O(8)), which are the main components of
               acid, intermediate and basic igneous rocks.
 "garnet"      A silicate mineral, commonly brown or red in colour, found in igneous and
               metamorphic rocks.
 "LCT"         Lithium-caesium-tantalum.
 "mica"        A platy, flexible mineral which is a common constituent of igneous and
               metamorphic rocks.
 "pegmatite"   Very coarse-grained igneous rock which commonly occurs as dykes in granite
               intrusions.
 "quartz"      A mineral composed of silicon dioxide, SiO2.
 "tourmaline"  Silicate mineral containing sodium, aluminium and boron.

Abbreviations

 

K             Potassium

Li             Lithium

Rb           Rubidium

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